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Market Commentary - Stock Alert
Stock Alert: Ola Electric Mobility, Tata Motors, Sobha, Nykaa, Purvankara, HI-Tech Pipes As on : 08-Oct-24  08:33

Securities in F&O ban:

Bandhan Bank, Birlasoft, Gujarat Narmada Valley Fertillisers & Chemicals, Granules India, Hindustan Copper IDFC First Bank, Manapurram Finance, Punjab National Bank & RBL Bank.

Stocks to watch:

Ola Electric Mobility has been served a notice by Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement and unfair trade practices.

Hi-Tech Pipes opens its QIP and set the floor price at Rs 194.98 per share.

Tata Motors reported JLR retail sales stood at 103,000 units in Q2 FY25, a decline of 3% YoY. Production was recorded at 86,000 units in Q2 FY25, down 7% from the previous year, primarily due to disruptions in aluminium supply reported in first quarter. Wholesales also decreased totaling 87,303 units, 10% YoY drop. Despite these challenges, production and wholesale volumes are expected to recover strongly in the Q2 FY25.

Sobha sold a new area of 0.93 million square feet (Sq.ft), generating a sales value of Rs 1,179 crore, with average price realisation of Rs 12,674 per Sq.ft during the second quarter of FY25.

FSN E-commerce (Nykaa) has reported consolidated net revenue growth in the mid-twenties for the second quarter of fiscal 2025. The beauty vertical has achieved mid-twenties growth in both revenue and net sales value, with gross merchandise value growth even higher. In contrast, the fashion vertical's net sales value growth is approximately in the early teems.

Lemon Tree Hotels has signed license agreement for the Lemon Tree Hotel in Udaipur Rajasthan. The property will be managed by Carnation Hotels , wholly owned subsidiary of the company and is anticipated to open in fiscal 2027.

Purvankara will acquire a three-acre land parcel in North Bangalore for a residential project.

Avenue Supermart has signed a transaction document to acquire a 26% stake in the equity share capital of FP Ampere Energy private.

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